If the transaction is successful, Mr. Son will increase his ownership from over 2 million shares (1.695%) to over 4 million shares (3.343%) in HAH. Mr. Son will purchase the shares through either matching or agreement methods from August 7 to September 5, 2024.
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Mr. Vu Ngoc Son was born in 1948 in Thai Binh province and holds a degree in Marine Transport Economics. Mr. Son previously served as Chairman of the Board of HAH from 2009 until his resignation on June 20, 2023, and was replaced by his son, Vu Thanh Hai (born in 1973).
In addition, another son of Mr. Son, Mr. Vu Doan Hanh (born in 1975), is currently the Vice President of HAH.
Mr. Son’s move to register for the purchase comes as the HAH share price is at a trend support level after a recent decline. At the latest closing price on August 2, HAH shares traded at 39,500 VND/share, up nearly 21% since the beginning of the year, with an average liquidity of nearly 3.7 million shares/day.
 HAH share price falls to trend support – Source: VietstockFinance
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In terms of business performance, HAH recently announced its Q2/2024 financial statements with a net profit of nearly VND 111 billion, up 15% over the same period last year, and also the highest profit in the last five quarters.
According to HAH, the increase in profit is attributed to the addition of new vessels to its fleet (Hai An Alfa and Hai An Beta), the opening of new routes in both domestic (Nghi Son, Chan May, Long An, etc.) and international (Singapore, Malaysia, India, etc.) segments, a 6.5% increase in average freight rates compared to the same period last year, and higher cargo volume leading to increased port handling revenue.
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HAH’s net profit hits a 5-quarter high
Unit: Billion VND
Source: VietstockFinance
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The Rich Paradox: Company owns 1.7 billion USD in cash, yet reports decreasing profits – highest in Vietnamese stock market
Every day, this business “pockets” over 5 billion VND in bank deposit profits.
